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FOX Business
Mar 17, 2013 8:00am EDT
now. >> conservatives at cpac calling for tax cuts, but the president telling republicans, they can hike them or take a hike in budget cuts . senate democrats are on his side, pushing one trillion in new taxings. is this why 7 out of 10 bosses are not hiring. this is bums and bears we'll get right to it. the bs and bears, to bin and jonas and john back from his mountain climb and jamull green. >> democrats are still pushing tax hikings. is that why the companies are not hiring? >> absolutely. alm they -- all they have to do is look at history or the state near. on the state lemp, - level. thstates that grow the most jobs are the ones without income tax. we have had this discussion many times. every time we cut taxes, the economy has grown whether on the left with p president kennedy or left with reagan. the left said clinton raised taxes and what is often ignored, clinton cut the capitol gains tax and he cut spending as a percentage of gdp. the obama administration want to go the opposite way, if they do they will make fdr a libitarian. >> jamull is it good or bad for the economy? >
FOX Business
Mar 17, 2013 9:00am EDT
. >> not necessarily, david. >> that is the only way the government gets money e mack isn't it? >> taxes have to go up to pay the interest on all of the debt. i got to tell you something when you have federal reserve officials experiencing buyer's remorse over all of the u.s. treasuries they have been buying you have to say these must are suppod to bet smartest guys in the room if they are not liking the balance sheet loaded down with treasury debt and what they are trying to do to support the spending going on that is a gut reality check. >> rick, i know you are a lawyer and not an economist. >> but i play one on tv. >> the numbers don't add up, do they? >> the ryan up ins add up. >> could you think the obama numbers add up you? >> w haven't seen them yet. >> we have seen them and seen how he has spent. i'm not talking about pie in the sky. where he has spent. increased the size of the government by 20%. is it working? >> except you would agree that we are seeing the deficit come down each year is since 2009. >> good size now at 800 million? >> of course, it is not at a good size. it is getting bette
FOX Business
Mar 19, 2013 8:00pm EDT
with mandatory spending or comprehensive tax reform. that is what it will take. neil: do you think that bernie marcus, the home depot cofounder, was telling me on fox news, the spenders are using a pr war, the strong stock market, improving economic numbers as jusjustification for more spend. >> i don't buy that, i don't think that the stock market is as pro efficient -- prefish ent as people think, we don't need to been the budget, the way that the government calculates a balanced budget is a bad joke, we do have to do, we have to start treating the disease, deal with health care costs, deal social insurance programs. neil: they are not. they might -- but remind me,er day they don't, a new pore added to our -- a few more added to our debt. all unfunded. >> that is right, that is what we need. >> you local starkest terms. >> the full view, if we look at big number, over 70 trillion, if we end up doing -- >> how does that work? >> debt held by public, held by social security medicare trustee fund, and pensions unfunded, arrange of commitment contingency, and unfunded social security and medicar
FOX Business
Mar 14, 2013 11:00pm EDT
for the buck, warren buffet, a fan of higher taxes on upper income, and government doing more and spending more when he had his druthers he hose to commit whatever money he has, before it goes to you and to you and the foundation and not to u.s. government. >> tells you we have 3 sectors, prive sector that biggest. and it phenomenal, anything it could do in terms of the diseases of the rich, the needs of people who can pay it is fantastic, then you have some things like education, justice, where government comes, and helping poor country, philanthropy is only a few percent as big as other sector but they are more willing to take out more far outsidence and new delivery programs there is a commentary rule we're taking your scientists and our expertise, and talks about government programs about what we know and where we have a common view, i'm the biggest fan of philanthropy, because it is almost like the venture capital of societal spending, sometimes you take on things like trying to get teacher to have more feedback and raise average quality, those programs might or might not succeed, this is
FOX Business
Mar 18, 2013 11:00pm EDT
of bankustomers are blowing their talk, with talk of a 10% tax on deposit the money, has a lot of angry customers storming the atm machines but the government has closed banks to avid a bank run, a keeping them close until they sort this out, but the tax is till coming. for cyprus it is about the cost of staying in the euro club, never mind how average i citizes there are getting club. but this is about taxing assets there. something with which we should all be very familiar here. no uncle sam has not hacked into our bank accounts -- yet, but he made a b-line for our other assets like next time we try to sell our home, and obamacare wants 3.8% of the profit for medicare tax. juss like it is tacking medical devices for what it deems exception atrogen -- generous healthy insurance policy. so what is such a big leap going from hitting you up for dollars off fur devices, and hitting you up for dollars off your deposits. none, i tell you cyprus is not isolated. i am telling you, cyprus is a test case, it is starting, it was not only liberal the world over watching. now big brother, everywhere salivati
FOX Business
Mar 17, 2013 1:30am EDT
through taxes in this budget. it is like one and half trillion dollars in tax revenue . that is on top. 600 billion in higher taxes this yearnd on top of the more than one trillion in obama care taxings. >> this is it a blueprint. >> it doesn't balance anything. >> it is a blueprint for what the president and democrats want higher taxs and more taxes and they will spend until the bond market said hold it. you can't spend and sell debt anymore. >> i think it is fascinating the way he put a time stamp on it. like 10 years, it is way out there in the future. 10 years comes pretty quick. i think what is scary about this and the media lets him get away with is it because obama snds smart but what you strip down what he said it is actually pretty stupid. we can right now sell debt. but in 10 years suggesting we have a problem and that is not coming in like tomorrow, is stupid. listen, youment to give the president respect. bright guy but his statement stupid. >> adam, you agree with that? >> no, i don't. ip don't think that calling the president is stupid. >> his statement, his statement. >>
FOX Business
Mar 19, 2013 11:00am EDT
to pick up. do not get too excited when all the obamacare taxes kick in next year. i would go into any of the markets like miami. the whole purchase to rent phenomenon, all the investors are jumping in and buying rental properties. the holster is wearing off on that. it did not turn out as good as they thought. look at those cities. vegas, phoenix, anything -- really, the fed induces this massive wild swing in bubbles. they are not sustainable. just watch out. dagen: anthony, it was great to see you. thanks a lot. connell: great to see you, as always. how about starbucks. this is a headline today. helps to explore different farming techniques. a disease called coffee rust. it has been hidden industry pretty hard. dagen: you can see through the pants. lulu lemon pulled some of its yoga pants off store shelves. the company claims the mistake impacts 17%. it was made by a supplier. lulu lemon offering full refunds to customers. they are trying to figure out what exactly happened. it is hard to make up a story this good. shares are down more than 5% today. connell: it is like christmas for
CNBC
Mar 19, 2013 7:00pm EDT
a bank at tax plan. now the risks of bank runs and bank collapses mount in this tiny country. we are about to bring you live report from cyprus. but cyprus may have an ace in the hole. it's called russia. the parliament is going hat in hand to russia to save its financial system in return for ownership of its natural gas resources. so do i have this right? the russian money-laundering thugs can save cyprus and maybe europe and maybe the global financial markets as well? it's a very scary thought. however, here at home, american business leaders speaking in one voice in a new campaign to push pro growth corporate tax reform. i like it. the polls show it. there's too much talk about root canal, dent and budge cutting. we need growth, we need optimism. we need "the kudlow report." it begins right now. >>> first up this evening, let's go live to cnbc chief international correspondent, michelle caruso cabrera who joins us from cyprus with the details. good evening, michelle. >> reporter: good evening, larry. it's been a day of high drama here in cyprus. just a few hours ago, the parli
CNBC
Mar 15, 2013 1:00pm EDT
they are trying to figure out how to cut the tax bill by using prior losses, because guess what, they are profitable today, and that savings would allow them to pay back the treasury over $60 billion and almost what they owe them entirely, and given that i asked former hud secretary martinez if we need to wind down fannie and freddie since they are profitable, and he said we do need to restructure, but something stunning to get the government out of the market, and he said that we need judges out of the foreclosure process. >> i think that the way that the 1,000-day wait for foreclosure is not fair to anybody in the system. i would say that a non-judicial system is the way to go, and the states who have a nonjudicial system have done it much more rapidly and better for the marketplace. so we are helping no one really when we retard the opportunity for a recovery, so in my view, a nonjudicial is the way to go and florida should move in that direction. >> and here in new york and new jersey where judges are a part of the process, it would take decades to get through the backlog of
FOX Business
Mar 12, 2013 8:00pm EDT
a budget in balance through largely spending cuts and largely no tax hikes, in other corner democratic senator patty murray. a case of us likely losing, because the cuts really are not there we have rick yo joining m -- a little boxing reference, you have to know that. all right, so, what do you think elizabeth? leaving aside in controversial things that paul ryan wants to do. in the en, just trimming the increase, that is it? >> yeah, i think one of the big thing here's that people lose sight of is balancing the budget, patty murray supposed budget does not even balance, it is supposed to raise a trillion in revenue, that tells you, this is more of a shopping spree than a budget, people need to remember that a budget hopefully means you are only spending as much as you take in, not more. neil: scott martin, the markets seem to sense, maybe that despite all of the just erring -- gesturing we're at least, cutting the growth and stuff, we're not really cutting but that is better than doing nothing? or am i misreading the market? >> you are reading it correctly, that is a reason we had su
FOX Business
Mar 16, 2013 8:00pm EDT
? if you are tired of washington's high taxes and big spending here is one way to stick it to the man >> tom: okay, you go first. i'll be right behind you. i have seen a lot of tax protestors and they do put them in prison when they don't pay their taxes. yes, people go to jail. i'll let you fight the battle first. thanks to everybody that contacted the show. keep your comments coming in. tom sullivan show, we're open for business 24/7. check out our facebook page, and then tom sullivan show. there is a lot of tom sullivan show, you can follow me on twitter at sullivan radio and all the things to contact us on the web my main webpage which is tomsullivan.com. thanks for joining us. make sure to tune in to the radio show. listen in through our fox news radio app. download it from itunes. you can hear us online by clicking live button on my main website. we or radio every day from 3:00 to 6:00 p.m. eastern time. we'll have another great show for you to fox business, but in the meantime, i hope to hear you on the radio. lou: good evening, everybody. thank you for joining us. the dow jone
FOX Business
Mar 13, 2013 11:00am EDT
is the disposable income after that payroll tax disappeared? continue negotiating. 82% is a proof of the way congress does its job. joining us now from washington, d.c. is steve moore. senior economics writer at the "wall street journal." will compromise and improve their standing in the eyes of the american people? i highly dow it. >> let me bring you up to date. there is still black smoke coming out of the capital. we still have not seen a senate budget. by 4:00 o'clock or 5:00 o'clock tonight, maybe. hold onto your hats, we make it a set budget. that would be quite a rare occurrence on capitol hill. people are extremely angry about the budget situation. they are extremely angry apple parties because of the accumulation of debt. they do not seem to be doing anything to stop this tsunami of red ink. washington is incomplete disarray. what do we do in november? we reelected 96% of these people. the numbers do not add up. dagen: i completely agree. if you look at the proposals from paul ryan and the senate democrats, where do you think there is room for compromise? >> i have looked through bo
FOX Business
Mar 16, 2013 11:00pm EDT
are tired of washington's high taxes and big spending here is one way to stick it to the man >> tom: okay, you go first. i'll be right behind you. i have seen a lot of tax protestors and they do put them in prison when they don't pay their taxes. yes, people go to jail. i'll let you fight the battle first. thanks to everybody that contacted the show. keep your comments coming in. tom sullivan show, we're open for business 24/7. check out our facebook page, and then tom sullivan show. there is a lot of tom sullivan show, you can follow me on twitter at slivan radio and all the things to contact us on the web my main webpage which is tomsullivan.com. thanks for joining us. make sure to tune in to the radio show. listen in through our fox news radio app. download it from itunes. you can hear us online by clicking live button on my main website. we or radio every day from 3:00 to 6:00 p.m. eastern time. we'll have another great show weekends. "the willis" report is coming up next. gerri: hello, i'm gerri willis live from the at atlantic city. tonight, new obamacare fees catching employers by
MSNBC
Mar 19, 2013 9:00am PDT
on spending and taxes. so far, the game is not going very well. >> is the grand bargain dead? >> i don't know whether we can come to a big agreement. the president believes that we have to have more taxes from the american people. we're not going to get very far. >> the president has sounded equally pessimistic about bridging the divide. >> it may be that the differences are just too wide. if their position is we can't do any revenue, or we can only do revenue if we gut medicare or gut social security or gut medicaid, if that's the position, then we're probably not going to be able to get a deal. >> while there's not much agreement there are plenty of ideas. washington is awash in budgets. no less than six plans are currently circulating on the hill. there is the plan from senate democrats, or the murray plan. it includes a one-to-one ratio of spending cuts and tax increaseses, as well as short-term stimulus. then there's the house democrats' budget, which pushes for $200 billion more in revenue than the plan proposed by their party members in the upper chamber and there is a congressional pr
FOX Business
Mar 14, 2013 10:00pm EDT
as republicans. smaller government, lower taxes, less spending, rational regulation, open markets, free trade. these are the things that unite as as republicans. it is no surprise to me, lou, that if you take this 60 million people who voted republican for president last year, they're not going to all agree on everything in it would be silly to think that they would. but, there are things that generally unite us, and we need to learn how to work together and push hard for what we know is right. secondly, to understand and not everybody who is a good person or even a good republican is goin to agree with you on everything. heck, my wife doesn't agree with me and everything. lou: you put it that way. in my house i have to say, have to agree with her. republicans have lost to president ections, as you are keenly aware, governor. the vote totals declining over those two elections last year. the spending, astronomical. the republicans -- fighting many people are not aware, republicans actually out raised anoutspend the democratic party. presidt obama. over $1 billion. now, that is, by mimas, gover
FOX News
Mar 19, 2013 12:00pm PDT
-increases debt, raises taxes and never balances. the top republican for budgetary issues blasted the democratic plan. >> now we know why senator reid did not want to bring up a budget. the plan from the democratic leadership is a failed plan for america. it does not alter the debt course of america, has no growth component to it. it spends more and taxes more. reporter: but these budget resolutions only require a simple majority so there are enough democrats to pass the democrats' budget resolution without republican votes needed. and so there you have republicans in the senate, all they can do is bash the plan. they cannot actually stop it. the house republicans are passing the paul ryan plan, and so then they'll go to conference and that where the heavy lifting will begin. >> shepard: the paul ripe plan has zero chance. >> it will pass the house and then they'll try to iron it out between the two plans. the paul ryan plan on its own would not be signed by president obama, would not pass the senate, burt it will pass the house. >> shepard: mike, thank you. meantime, something about our econo
MSNBC
Mar 14, 2013 3:00pm PDT
if they are unwilling to come up with or agree to anything related to closing some tax loopholes and i would think that 98% of americans realize and understand that we have protected spots in our tax code for rich folk who have airplanes and yachts and it's just mind boggling that people can't say, yeah, we can close those loopholes. we don't want those people taking advantage of the tax code so they can keep millions of their dollars when poor people are paying a disproportionate amount. so david throw said things don't change, we do. there's going to have to be some changes going on with individuals and their philosophies if we're going to bring this nation around to propelling this growth or we're going to fall down again because they are not going to move. >> when you look at the fact that speaker boehner wrote and this is an op-ed that says, obama's outreach is nice but where's the leadership? if we're going to find bipartisan solutions, the president will have to move beyond the same proposals as democrat democratic dogma. aren't they saying, there can be an agreement as long as everybody ag
FOX Business
Mar 16, 2013 10:00am EDT
-called vice taxes. you have probably heard the sequester cuts go after about $44 billion in this fiscal year. let me give you a sense of this. taxes on tobacco and alcohol and gaming, gambling, lotteries, generated together $75 billion compared tough sequester, that taxes are doing a very powerful job. that is, federal, state and and local revenue. two states, two states have legalized the recreational use of marijuana. they are colorado and washington . colorado clects more than $5 million in sales, $5 million in sales from dispensaries, pot dispensaries, marijuana. washington is reportedly collecting some $750,000 in taxes, although they have been having trouble getting dispensaries registered with the state. it is affecting their revenue. pot smokers procrastinating. hard to imagine. well, regarding that $13 billion pornography industry, 13 billion. california is earning about $36 million per year just in revenue from the porn industry. it's worth about a bilon dollars overall to the economy, just in southern california. well we are on the subject of sex in addition to the so-called vice
CNBC
Mar 19, 2013 3:00pm EDT
to be? the monopoly man smoking a cigar? let's take a look at the euro. parliament voting to tax -- to not tax bank deposits. that's the latest word. a very fluid situation. much more on "closing bell" next. >> thanks very much for watching "street signs." stick with us. see you at the same time tomorrow. >>> hi, everybody. good afternoon. welcome to the "closing bell." i'm maria bartiromo at the new york stock exchange. the dow and the s&p 500 threatening to do something we haven't done all year. decline for three days in a row. >> shall we panic? i don't know what to do. i'm bill griffeth. stocks are lower. they've been lower all day. we've had just in the last few minutes here, to see if parliament rejected that one-time tax on bank deposits, which was a condition of its bailout plan. now investors are concerned maybe a default by cypress could intensify the euro zone's debt crisis. >> morgan stanley's adam parker, who had been negative says, no, no, no, i'm going to raise targets. in fact, one of the biggest bears turning bullish. why this market still has plenty of room to r
FOX Business
Mar 15, 2013 1:00pm EDT
industry takes a hit with higher taxes and more americans quitting is investing too much to risk? we have robert gray off. >> good afternoon. fewer americans are smoking all the 19 percent are smokers and the price of cigarettes have more than doubled. see may not expect to see that over the past decade decade, the big tobacco producers philip morris -- will morris here in the u.s. and others outdistance the s&p 500 when they reinvest the dividends and one statistic to jump out come over the past five decades is a paltry a group take a look returning almost 20% per year. 840,255% thank you to s&p four crunching the data. there are a lot of risks involved their steady dividend payers but bell have fairly large debt loads we know about litigation risk and regulation and we will talk about that the next hour with a face is in california. back to you. melissa: what is business without wings? we have the efforts of expanding the hooters brand spirits this is what a down day looks like. back at the new york stock exchange down 40 points. lori: carnival faces another problem with one of the ship
FOX Business
Mar 15, 2013 9:00pm EDT
's in it, noone rea it before it was passed, and there's quite literally a trillion dollars worth of taxes in the affordable care act. it's underappreciated, there's a tax increase on the economy to turn into big job growth impacts and turn into big cost of insurance impacts, and that's what the fee is for, it's there to get the startup of the new exchanges going and to ensure the high cost paicialghts are covered into the insurance products. gerri: what's interesting because there's a lot of people asking for exclusions already, and am i surprised that thedownon representing auto workers doesn't want to pay this. boeing, as i mentioned before, they are asking for exclusions. suspect this s case where virtually anybody with more than say a thousand employees is going to be knocking on th white house doors asking for personal consideration? >> well, of course, you would. this is a cost of doing business, going to be sutantial, and unanticipated cost. we saw this with all the regulations that have been put in place to make obamacare go. one by one, they show up and ask for exclusions because
FOX Business
Mar 18, 2013 5:00pm EDT
. the european nation wants to tax all bank deposits up to 10% in order to secure a $13 billion bailout for the government. this move is unprecedented, it would basically allow the government to skim the bank accounts of every single person who makes a deposit into a cyprus bank account. if that is not enough, the country has closed all banks until thursday so if the decision is made there will not be anything anybody can do if they have money in the bank. now the world is bracing and waiting. what you should do with your money and with the impact could be. so excited to have you on tonight. university of chicago professor. what a team. let me start with you because i want you to set the scene for us because some people hear this and i think of cyprus is a tiny island, who cares. this could set off a chain reaction around the world, tell me why. >> if you have your bank deposits in another country that is shaky, italy, spain, portugal, and greece, you will say in my the next in line? so what we will be looking for over the next week or at any time or attention turns to a potential crisi
FOX Business
Mar 13, 2013 11:00pm EDT
maul your paycheck. why democrats could jump at more tax hikes. tech kyes awaiting the next big product from samsung, the hype over the new galaxy s4 that's proof apple needs to watch its proof apple needs to watch its s. the capital one cash rewards card gives you 1% cash back on all purchases plus a 50% annual bonus. and everyone wants... ♪ 50% more doo wop ♪ 50% more buckarooooooooos ♪ 50% more yeeeaaahhhh!!!! ♪ 5 more yeah yeah [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase, plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. ♪ 50% more boog ♪ what's in your wallet? cashhhhh!!! ♪ what's in your wallet? at od, whatever business you're in, that's the business we're in. with premium service like one of the best on-time delivery we do whatever it takes to make your business our business. od. helping the world keep promises. il: a new pope, a new record high. curious? the dow hit an all time high, 7th straight day, longest streak in 26 years. markets up, retail sales up, all of this despit
MSNBC
Mar 13, 2013 3:00am PDT
's not going to happen. you talk about a trillion dollars of new taxes for patty murray that is unlikely to happen. where is that middle? >> it's going to take the president to forge and find the middle, which is why, again, i echo the points made at the beginning of the show and to mike's point about the weirdness of the town, there was a time when this was not weird. you come from one of the great states and one of the great leaders who helped create this environment, the great tip o'neill understood you had to work with both sides. >> and teddy kennedy. >> no doubt about it. the most productive leader was teddy kennedy in the senate and not only washington. it takes the president to unthaw this. he is going to probably take as many arrows as you said before from the democrats as he will republicans. there are democrats who are staunchly opposed to spinning discipline around entitlement. >> can i say it's actually nice? because this president really hasn't crossed his base a lot the past four years. it's nice for me to be able to say to republicans, who say i think legitimately say he
MSNBC
Mar 17, 2013 5:00am PDT
cautious proposal, one to one ratio spending cuts and new tax revenue. with all the coverage focusing on these plans, what you wouldn't know a third proposal, one that constitute as much stronger weight to the winding conservatism of the ryan budget. that alternative is the budget proposed a congressional progressive caucus which would add $2 trillion in new spending to create jobs and pay for it by raising taxes on the wealthy and corporations. the entire discussion about budgeting has been anchored on the right by all the attention of the ryan budget has gotten. even though it is billed as the democratic alternative this is for. the murray budget is in some ways closer to the ryan plan when you take the progressive proposal into account. check this out. the ryan budget would cut nondefense discretion airin funding, education transportation, other social services, 16% over ten years. according to the citizens for tax justice. end -- other end of the spectrum, progressive caucus budget which would increase that spending by nearly 28%. you may expect that murray's center left democrati
FOX Business
Mar 14, 2013 1:00pm EDT
: that companies from lost tax revenue because the economy is smaller? is that where you're getting the number from. >> yes. a mere 1% growth loss over time is huge impact on the economy and our ability to pay our bills. melissa: now you say this testimony is empirical. that is right in front of us and quantitative and not sub executive and people have to pay attention to that. that is not the case when you present it to the democrats and the president. they say cutting back on spending now would damage growth and the economy and cost us jobs in the short term. how do you respond to that? >> well, basically what the witnesses today said, for the most part, is that congress and the white house is making progress on discretionary spending, more can be done. but they really felt, the focus needs to be on how we make social security, medicare, medicaid, solvent over the long time. there was one other area of treatment. asked, given the obamacare taxes that have kicked in, the new taxes from the fiscal cliff, absent fundamental tax reform, would raising taxes again be helpful to our economy? no one agre
FOX Business
Mar 20, 2013 5:00pm EDT
. if tomorrow you wake up and you find there is a 10% tax on your bank deposits, you will not be happy. if you're a politician in cyprus you're dealing with this and they're bank backing away from it. it was a bad idea in the first place. cyprus needs $10 billion from the european union and the european central bank and they have given others like greece hundreds of billions of dollars. so they're upset. the cypriot banks are insolvent. they're going, they will get a run. melissa: they are insolvent and they will get a run, yeah. >> but it's not cyprus's fault in my view. melissa: doesn't matter whose fault it is if it happens. julia, what is the outcome? what is the domino effect? which if there is a run on the banks there which there certainly will be, should i withdraw money from my bank here? >> no, i don't think so. the structure of the cypriot problem was quite unique the bank assets in cyprus are something like 730% of the country's gdp. it really is is a safe haven for russian investors. that is why when they needed money, there is always going to be some burden-sharing in a bailout. w
MSNBC
Mar 13, 2013 6:00am PDT
.85 trillion off the deficit over the next decade. it does so by raising nearly $1 trillion in new tax revenue, by cutting tax expenditures, and closing loopholes in the tax code and cutting $733 billion in spending. the remainder of the package is made up of savings on interest payments. murray's budget includes $275 billion in some health care cuts, less than the $400 billion the president previously put on the table and what he talked about in the state of the union. it includes $240 billion in defense cuts. senate democrats also propose $100 billion on new stimulus spending on infrastructure projects. >>> the budget includes no change to social security. the president reportedly faced some skepticism yesterday when he spoke to senate democrats about potential plans to switch to a, quote, chained cpi, which could lower the rate at which social security benefits are increased and cut the cost of the program in the long run. this morning, the liberal "huffington post" has a banner headline quoting senator tom harkin. quote, he said he hopes we reach some grand bargain. but what is in that gra
FOX Business
Mar 14, 2013 9:20am EDT
with spending and tax increases. on the other end of this how do you suggest that president obama somehow come and meet him in the middle? >> i'm not sure the budget is coming out of the house as much as any new revenues to solve the budget problems. by the way, i think we could learn something from the vatican if you lock everybody in a room with 500-year-old plumbing, we might get a deal here. charles: you know what? i tell you what, i'm for it. i thiik that's the most bipartisan thing that will be said all day long. on the budget situation, you know, it's interesting because obviously the president has taken a different tact here recently going into the sequester deal and sort of went to the people to make his case and the country's not falling apart. sequestration might have been a ploy, if you will, to sort of put the g.o.p. in a box, but seems to be working against the president and might be changing the whole tenor of this debate. >> well, i think the issue on sequestration, i think the president did sort of overestimate the effects and what i'm seeing is that it's having serious effect
FOX Business
Mar 16, 2013 6:00am EDT
tax revenue. you will get less tax revenue when the economy is smaller. this is something that the market understands. they want to see the economy grow. less in the future is better for the economy and markets. neil: that would mean no that if we are continuing on this trend, everything that the markets are celebrating right now, slobby sequestration, whenever you want to call it could be short-lived and there could be problems. what do you see happening? >> well, i think rand paul messages effective not only for the markets, but for the economy and the country atarge because he is making a connection between economic liberty and prosperity. he understands that does look to the 20th-century. alwayshe most prosperous countries are always the most free. and the message of essentially constitutionality, individual rights, that is tremendously bullish for the market. bullish for the economy. tting the nail on the head. the fact that everything investors are seeing that we had a sequestered. this guy did not fall. there is still more work to be done in terms of cutting the siz
FOX Business
Mar 18, 2013 3:00pm EDT
in response to cypress' plan for a deposit tax. now it seems like we're shrugging off those headlines. now, shares of hewlett-packard and verizon are helping the dow recover some grounds after upgrades from morgan stanley. verizon actually hitting more than an 11.5-year high today. there's the stock, up 87 cents, 48.89, as you can see on your screen. we're not getting any help from financials today. it's the worst performing sector following suit with some of these european banking counterparts. check out some of these euro financial names that are actually trading here in this country. they're getting knocked down. royal bank of scotland, create suisse, deutsche bank, ubs, war clays, all -- barclays, all of these stocks substantially lower in this country. s&p 500, we are still within striking distance of the record high despite moving lower today, the s&p down more than almost five points as you can see on your screen. is it going to happen this week? are we going to get that big number? we're looking for 1565.15. so close. as always. let's get right to our floor show. we've got traders
FOX News
Mar 15, 2013 10:00am PDT
on the balance. >> property taxes. >> megyn: that is warning people of a potential property tax hike in the coming election. i don't understand exactly what's happening. the teachers don't like that, but why are the teachers objecting to notifications of property taxes going up. >> they don't want the voters to notice if they've signed up, they voted for a property tax hike and the property taxes are the basis. >> megyn: and they're going to go and vote on various measures that affect them and the one on i raising property taxes is now highlighted on red ink on the outside of the voter envelope. >> and saying we've got more taxes coming at you. >> megyn: and the teachers union says let that go? >> no, let the voters blythely go on and meander through the ballot and the last thing they want is for taxpayers to know that he or she is going to be paying higher taxes in an educational system that isn't too shiny, if i can use the expression. it's pitiful what's happening. >> megyn: because those property taxes will go help fund the teachers salaries and they don't want anybody-- they don
FOX News
Mar 17, 2013 2:30am PDT
to strike, which is part tax increases and part this alleged spending cuts, nobody is really for that and too vague and also used the word gut g-u-t when it refers to medicare i think is the beginning of the 2014 mid term elections, where the democrats are going to come after the republicans and paul ryan on gutting or slashing, their words, medicare. and i think that that action, you see it in the-- the democratic congressional campaign committee twitter feed is really where the democrats are headed. >> jon: when the president says a balanced budget is not his goal, is that his words? >> i think most reporters are used to hearing this and bush must have said it at every state of the union and and it's sort of boiler plate when people promise it. i think expecting the president to say he wants a balanced budget is putting it in the republican paradigm. most liberals don't think it's the short-term goal. the goal is to avoid austerity and keep the economy moving and in the long run balance the budget, but it's not a short-term goal. >> jon: what about the interview, juan? step
MSNBC
Mar 14, 2013 2:30am PDT
is where they can compromise on fundamental disagreements, including taxes. >> you know, again, if the president wants to let our unwillingness to raise taxes get in the way, then we're not going to be able to set differences aside and focus on what we agree on. and my takeaway was that. >> i thought that we had a very frank and candid exchange of ideas. and frankly, i think it was productive. we have a spending problem. we have to attack the spending. and the president understands, yeah, we've got some long-term spending that we need to deal with, but he's going to hold hostage the fact that he wants to raise taxes on the american people again. >> last night, the president addressed organizing for action, the group run by many of his former top operatives to help advance the president's agenda. the president downplayed his new efforts to work with members on the hill. >> over the last several weeks, the press here in washington's been reporting about obama's charm offensive. well, you know, the truth of the matter is, all i've been doing is just calling up folks and trying to
CNBC
Mar 19, 2013 9:00am EDT
and the latest deposit tax scheme. happy anniversary, apple dividend and it was a year ago when the tech giant announced its dividend in 17 years. will apple succumb to the bigger payout as it faces stiffer competition from samsung. lululemon doing the downward facing dog with the transparency with the iconic black yoga pants prompting the retailer to cut sales guidance and boeing clinches an order from ryanair. of course, we begin with the markets. the dow and the s&p 500 hoping to avoid their first three-day losing streak of the year. wall street will be paying close attention in about three hours from now. that country's parliament scheduled to vote on a proposed tax on bank deposits and the controversial measure appears set to go down in defeat. here in the u.s., policymakers begin a two-day meeting in which they're expected to hold current policy. this is one of the meetings where we will get a press conference and people will be hanging on every word and every use of every adjective coming out of the fed chairman's mouth. are you expecting anything? >> i think that, frankly, we are looki
FOX Business
Mar 14, 2013 4:00pm EDT
, getting our aaa rating back, dollar policy. where our economy is going as we face tax increases. of course the sequester questions. peter will cover it all. you don't want to miss it. that is in about nine minutes from now right here. also driving money towards transportation. that's what legendary investor wilbur ross is doing. find out what he is buying and selling. wilbur ross doesn't like to give picks but he has a couple of them. also if he think this is rally has strong legs. with $5 billion under management he is someone you can not afford to miss. >>> before all that we're going to tell you what drove markets with today's data download. the dow is making history once again, posting its 8th straight record close. the longest streak of record closings since november of 1996. the s&p and nasdaq also ending in in the green with the s&p now less than three points away from its all-time high. >>> energy and technology were the best performing sectors. the number about americans filing for new jobless benefits fell for the third week in a row. initial claims unexpectedly dropped by 10,000
FOX Business
Mar 13, 2013 10:00pm EDT
trying to downplay the possibility of striking any kind of bipartisan deal on budgets cut taxes, and deficit reduction. >> it may be that the differences are just too white if their position is we cannot do any revenue or we can only do revenue if we get medicare or get social security or get medicaid. if that is the position and we are probably not going to be able to get a deal. lou: congressman paul ryan, the author of the republican budget calling the president'sur reach effort, if that's what it is, and fiscal wishes not terribly charming. the president also claiming dung that interview with abc that the white house did not order the controversial closure of white house tours. that is the statement that his own press secretary disputed just hours later. >> the secret service made the decision about its budget and to withdraw personnel from to worse . cancel the taurus. it is our job to cancel the taurus. they cannot cancel them. because this is not a tour of the secret service building but tour of the white house and grounds. we run the taurus and the invitations and proces
MSNBC
Mar 17, 2013 9:00am PDT
taxes, do they believe that the democrats will just cave with no compromise? >> alex, you may know i was one of the few republicans who was saying that we a bit more revenue, but also through tax reform. i made that case all the way up to the fall. and when begot up to the fiscal cliff, i was hoping that the agreement would incorporate spending reductions as well. it was $73 billion of increased taxes. so i voted no for it. i'm really asking me democratic colleagues to help us address spending, our budget goes up by about 3.45%. both of them go up, it's just that the democrats are going up really far higher. >> but representative ridgeal, are there others who are like minded like you in the party? how many? >> but there are some, but i do want to make the point who are that it truly is spending that's driving this train and i was very disappointed in our president when after the election, he put it this way, he said we need to begin to take a look at how we reform titlements. this was after he had been in the office for four years and i had an opportunity to speak with the president
FOX Business
Mar 19, 2013 3:00pm EDT
. after cypress rejects the tax on bank deposits, at its high, get this, the dow up more than 62 points today before making a 132-point swing to the downside. there's the dow. right now, down 24 points, a lot can happen in the last hour. a lot has happened during this session today. taking a look at the s&p. the s&p is moving further away from that record closing high, trying to get there, can't get there. the dow and s&p at this point on track of the first three day losing streak of 20 # 13 of the year. 1544 and 1565.15. we want to see on the s&p. two companies weigh on the s&p today. e lek tropic arts whose ceo stepped down after lowering guidance for the upcoming quarter, and cliff natural resources after goldman's lower iron ore outlook hurts, both big performers in 2012, both stocks down substantially right now. we got data today, more data, on housing, and the housing recovery is moving forward as construction picks up. the good news coming out today, helping to lift markets, at least earlier op in the day, so a lot of information to digest during this trading day. look at the bui
FOX Business
Mar 20, 2013 3:00pm EDT
requirements on potential borrowers. we are concerned a variety of factors like concerns about the tax the banks may have, uncertainties about regulations which we are working on to get done as quickly as possible may have tightened the mortgage credit box more than would be desirable in the long run help the eeonomy. that has effect on my trade policy, one of the more powerful tools we have is in a state of home buying and related indust industry, so that is an issue we take into account. i would say one thing, as the housing industry has strengthened, home prices have gone up, that has brought some people into the credit box in the sense the number of people who are underwater in their mortgages is declining as house prices go up. so if people have bigger down payment, bigger equity in their homes, they become more creditworthy. i don't want to overstate it, but monetary policy by strengthening the housing market, helping support house prices is bringing more people into the mortgage market. >> peter barnes of fox business, sir. the stock market has been hitting all-time highs, it ha
FOX News
Mar 16, 2013 2:00am PDT
is what else we know about the murray budget. according to the budget staff it will increase taxes by 1.5 trillion dollars, it will increase spending by 62%. it will lower gdp by more than 2 trillion dollars over the next decade, it will cost 600,000 jobs per year. cut after tax income by almost 3 trillion dollars and reduce household income overall by well over 2 grand. and harry reid says the ryan budget is extreme? to weigh in, kirsten powers and co-host of "the five" dana perino. mike crapo, the senator from idaho asked the budget staff, what about the budget? we haven't seen the details, what do you make of it, what's the cuts and deficit reduction and i'm quoting now, it's zero in the first year in total said a member of that state to the senator. they're not trying, right? zero? >> well, i don't know why anybody's really shocked by this. after all we've heard from many leaders in the democratic party that they don't even think there is a spending problem. so, and the president has made pretty clear that cutting the deficit isn't his top priority. so, you know, i mean i actually d
FOX News
Mar 17, 2013 7:00pm PDT
proposals, both very different on things like tax hikes and entitlement spending and neither likely to get enough support to make it to the president's desk in its current form. house speaker john boehner says he's at work toward balancing the budget going forward, but that's that washington's spending problems have to be addressed. >> when you get down to the bottom line, the president believes that we have to have more taxes from the american people and we're not going to get very far. if the president doesn't believe that the goal ought to be the balance of the budget over the next ten years, i'm not sure we'll get very far. >> peter doocy with the news in washington for us tonight. do lawmakers sound hopeful that the government shoulddown can be avoided? >> harris, none of the lawmakers we heard from today actually threatened to shut down the government at the end of the march and the focus seems to have shifted past the upcoming deadline to extend that short-term budget resolution and on to a more grand bargain, but speaker boehner says he doesn't know if democrats and republicans can
CNBC
Mar 20, 2013 1:00pm EDT
tomorrow morning. there's still no plan here. in fact, you heard about plan a which was to tax deposits. now we have heard that plan b has been rejected by the troika as well. cyprus government said to the troika, their european partners who they want them to lend money to, they said to them, listen, instead of taxing deposits why don't we do this instead. we have a pension fund, we'll raid it, take the cash, turn it into bond and we'll pay it back over time. the troika said that doesn't do anything for you. you still have liabilities. then they said we're also going it try to sell one of the bad banks. and the fact of the matter is if the bad bank were sellable, people like chris flowers and wilbur ross and tim collins would have been here a long time trying to buy it. they said maybe we'll split it up, divide it into the good bank and bad bank. we'll sell the good bank to the russians and the troika said selling the good bank is the easy part. what are you going to do with the bad bank? none of that is going to work. you will hear more about what the hopes are for russia from steve in
FOX Business
Mar 15, 2013 4:00pm EDT
? that would be two different types of gamblers. higher taxes and gas prices could spell trouble for cities that do rely on casino resorts. coming up tonight at 8:00 on "cavuto" talk about challenges e facing. david. david: good stuff. ♪ . i'm a conservative investor. but that doesn't mean i don't want to make money. i love making money. i try to be smart with my investments. i also try to keep my costs down. what's your plan? ishares. low costnd tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackro. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. david: time for a speed read, some of the day's other headlines, five stories, one minute. pentagon spends one billion dollars a year in a program that sends up employment to troops that left the military voluntary little. the program has risen more than $600 million over the last ten years. >>> toyota is recalling 310,000 fj-cruiser
MSNBC
Mar 18, 2013 2:00pm PDT
talking, actually pushing big tax cuts for the rich and cuts in medicare and medicaid that affect the middle class and poor. what a strange thing it is to hear reince priebus talking about building bridges when he was the one with his hands on the detonator? former pennsylvania governor ed rendell is with us as well as managing editor of the grio joy reid. i'm just wondering, why would a political party believe a new fr strategy would cover up for its policies? >> it makes no sense at all. first of all, their policies are bankrupt. they're the exact same, and they haven't changed their policies a bit, chris. you see republican state legislators pushing antiabortion bills that are clearly unconstitutional, clearly punitive to women. no exceptions for incept and rape. things that voters rejected the last time dramatically. they don't get it about income inequality in this country. they're still pushing for budgets that give huge tax breaks to the rich and stick it to poor people. people who are vulnerable. they haven't changed their policies a bit. no packaging, no marketing, can ch
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